Oil Storage Global Market Report 2022: Increase in the Demand of Crude Oil Supply is Expected to Propel growth – Forecasts to 2026 and 2031 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Oil Storage Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
The global oil storage market is expected to grow from $8.98 billion in 2021 to $9.36 billion in 2022 at a compound annual growth rate (CAGR) of 4.15%. The oil storage market is expected to reach $11.01 billion in 2026 at a compound annual growth rate (CAGR) of 4.16%.
The oil storage market consists of sales of oil storage by entities (organizations, sole traders, and partnerships) that refer to reservoirs or containers used to store oils. The oil storage tank is used to hold oil products temporarily before they are transported to end-users. Oil storage has different types of sizes like small, medium, and large-scale storage. Oil storage is used by companies to get more profits by using the cheapest storage method called underground spaces like the depleted reservoir.
The main types of oil storage include pen top tanks, fixed roof tanks, floating roof tanks and others. The open-top tank refers to process-oriented tanks and is typically used for blending or containment such as chroming tanks, dipping tanks, and batch tanks. These are used in industries as secondary containers for liquid storage.
These tanks are used for the storage of crude oil, gasoline, aviation fuel, naphtha, diesel, kerosene and liquefied petroleum gas (LPG). The different materials used in oil storage include steel, carbon steel, fibreglass reinforced plastic (FRP) and others.
North America was the largest region in the oil storage market in 2021. The regions covered in the oil storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increase in the demand of crude oil supply is expected to propel the growth of the oil storage market. Oil storage is used for storing crude oil, petroleum, and other oil products that are further supplied to end-users. The increase in demand of crude oil supply is due to an increase in consumption of crude oil products like petroleum, oil, and gas. As the oil consumption grows, it will increase the demand of crude oil supply and there will be a significant need for oil storage.
For instance, according to the International Energy Agency (IEA), consumption of natural gas in India is expected to reach 25 billion cubic meters with an annual growth of 9% by 2024, and also, according to the Indian Brand Equity Foundation (IBEF), oil demand in India is expected to grow by 50% by 2030 compared to 7% growth for global demand. Therefore, the increase in the energy of crude oil supply is expected to drive the oil storage market.
New product launches are a key trend gaining popularity in the oil storage market. New product launch refers to new product development and launching the product into the market. Key players are focusing on launching new products to increase their portfolio and capture additional revenue.
The countries covered in the oil storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Major players in the oil storage market are
- Belco Manufacturing Co Inc
- Brooge Energy
- Containment Solutions Inc
- LBC Tank Terminals
- L F Manufacturing Inc
- Oiltanking GmbH
- ZCL Composites
- Oman Tank Terminal Company
- Columbian Steel Tank
- Vitol Tank Terminals International BV
- Ghazanfar Group
- Horizon Terminals Ltd
- Waterford Tank & Fabrication
Key Topics Covered:
1. Executive Summary
2. Oil Storage Market Characteristics
3. Oil Storage Market Trends And Strategies
4. Impact Of COVID-19 On Oil Storage
5. Oil Storage Market Size And Growth
5.1. Global Oil Storage Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Oil Storage Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Oil Storage Market Segmentation
6.1. Global Oil Storage Market, Segmentation By Product Design, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Open Top Tank
- Fixed Roof Tank
- Floating Roof Tank
- Others
6.2. Global Oil Storage Market, Segmentation By Product Design, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Crude oil
- Gasoline
- Aviation fuel
- Naphtha
- Diesel
- Kerosene
- Liquefied Petroleum Gas (LPG)
6.3. Global Oil Storage Market, Segmentation By Materials, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Steel
- Carbon Steel
- Fiberglass Reinforced Plastic (FRP)
- Others
7. Oil Storage Market Regional And Country Analysis
7.1. Global Oil Storage Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Oil Storage Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/vv1pvc-storage?w=4
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
